Triple-S Management (GTS) Reports Q3 Loss of $0.97, Revenues Beat

Triple-S Management (NYSE: GTS) reported Q3 EPS of ($0.97), versus $0.35 reported last year. Revenue for the quarter came in at $770.61 million versus the consensus estimate of $756.77 million.

"Our third quarter results saw continued improvement in our core Managed Care segment, but were clearly impacted by an additional unfavorable prior period reserve development at our Property and Casualty segment, reflecting a significant increase in new claims and claim amendments received shortly before Hurricane Maria's first anniversary," said Roberto Garcia-Rodriguez, President and Chief Executive Officer. "New claims jumped from a three-month average of 160 in June, July and August to 613 in September, and have since declined sharply to approximately 40 in October – signaling that September was an outlier rooted in the belief among many that they had up to a year after the event to file their claims."

For earnings history and earnings-related data on Triple-S Management (GTS) click here.

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